Funding arb · Price arb /

MERL

all MERL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Aster−0.406%56s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on SunX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.406% cheaper against Aster than usual: you would sell low and buy high, −$41 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MERLUSDT	0.02840	0.0100	pay 0.0050% / 4h	1h 59m	$3K	$1K	5x
Short	SunX MERL-USDT	0.02828	0.0100	get 0.0050% / 4h	1h 59m	$2K	$957K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AsterbpFee SunXbpOrdersPrice spread, now −0.406%Rate

Funding earned: $0
Price spread: −0.406% → 0.000%: −$40.62
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$56.62
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; SunX: live order book, 23 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aster no order-book sample	—	—	—	—	—
Sell SunX live order book, 23 min ago	491.80 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MERL on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International MERL-PERP-INTX	−0.0272%	1h	0.02800	−1.399%	$23K	$659K	50x	as long as short
Orderly PERP_MERL_USDC	+0.0097%	4h	0.02841	+0.052%	$14K	$2K	10x	as long as short
Hyperliquid MERL	+0.0100%	1h	0.02833	−0.220%	$446K	$148K	3x	as long as short
Aster MERLUSDTlong	+0.0100%	4h	0.02840	long leg	$3K	$1K	5x
Binance MERLUSDT	+0.0100%	4h	0.02842	+0.087%	$1.9M	$1.9M	50x	as long as short
Bybit MERLUSDT	+0.0100%	8h	0.02834	−0.195%	$1.3M	$412K	25x	as long as short
OKX MERL-USDT-SWAP	+0.0100%	4h	0.02836	−0.124%	$1.3M	$2.0M	20x	as long as short
Gate MERL_USDT	+0.0100%	8h	0.02840	+0.016%	$255K	$57K	25x	as long as short
MEXC MERL_USDT	+0.0100%	4h	0.02841	+0.052%	$3.6M	$118K	100x	as long as short
KuCoin MERLUSDTM	+0.0100%	4h	0.02833	−0.230%	$905K	$40K	30x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MERLUSDT	+0.0100%	4h	0.02846	+0.228%	$1.7M	$255K	25x	as long as short
BingX MERL-USDT	+0.0100%	4h	0.02841	+0.052%	—	$6.6M	—	as long as short
Variational Omni MERL	+0.0100%	8h	0.02823	−0.583%	$9K	$340	—	as long as short
SunX MERL-USDTshort	+0.0100%	4h	0.02828	−0.406%	$2K	$957K	20x
BloFin MERL-USDT	+0.0124%	4h	0.02826	−0.477%	$121K	$3K	50x	as long as short
Deribit MERL_USDC-PERPETUAL	+0.0175%	1h	0.02828	−0.406%	$58K	$44K	10x	as long as short